Over 200,000 New iPads Have Already Been Smuggled Into One Chinese City [Report]

Like any Apple device, the new iPad is big business on China's grey market.

Apple’s new iPad has been available to purchase in the U.S. and nine other countries for just four days, but over 200,000 units have already been smuggled into China for sale on the grey market. Natives are reportedly importing the device into the city of Shenzhen, a city that borders Hong Kong, for a profit of around $20 on each device.

Many of the imports have come from the U.S., according to a CUTV report — which has been translated by Tech In Asia — where online pre-orders meant that there were shorter queues at Apple retail stores.

On the grey market, prices for the device vary depending on demand, but some Chinese customers will pay up to $1,580 (10,000 RMB) to get their hands on the tablet early. As demand dies down, that can be expected to drop to around $80 (500 RMB) above their usual retail price.

The total number of new iPads on the grey market is believed to be far greater than 200,000 units at this point, according to The Next Web. That estimation is simply the number of devices imported into Shenzhen (where, ironically, the device is assembled by Foxconn) and it doesn’t take into account the iPads that imported into other cities, like Beijing and Shanghai.

The new iPad is expected to make its way into China officially within the next few months, based on previous iPad launches, and Chinese customers will have the opportunity to buy directly from Apple without paying the early premium. It seems, however, that some just cannot wait.